Employee benefits are just as important as a competitive salary to boost productivity.
The place we work in has a big impact on how we feel about work, how we relate to our colleagues and, most importantly, how productive we are.
Ensuring staff remain motivated can help to boost productivity, company loyalty and levels of employee engagement. While the overall organisation’s culture and quality of management are key drivers of motivation, employers can use benefit packages to get the best out of their staff.
As well as a competitive salary, when employees are looking for a new job, attractive benefit packages are equally as important. They help to build a strong working relationship between employers and their employees.
A great benefits package can help improve work habits, which in turn can help to reduce employee turnover which decreases training costs and helps boost staff morale and productivity by showing them how valuable they are to the business.
The main components of an employee benefits package are pensions, life cover, disability cover, sickness benefit and private medical insurance.
Every employee can have different benefits packages within the company. There are opportunities for employees to be guided through the decision making process and support them all the way.
Mike Jenkins is business development manager at Welplan Pensions